Level Four: Philanthropy
Difficulty Level: High

 

1. To establish a private foundation, you will probably need at least _____
   1. $50,000 to $220,000
   2. $2 million to $3 million
   3. $10 million to $20 million
   4. None of the above

 

2. According to the 2016 U.S. Trust Study of High Net Worth Philanthropy, how many high net worth households give to charities?
   1. 12%
   2. 31%
   3. 62%
   4. 91%

 

3. Under terms of a charitable remainder annuity trust _____
   1. The donor receives payments and the charity receives the remainder
   2. The charity receives payments and the donor or heirs receive the remainder
   3. The donor and charity split all payments and remainder
   4. None of the above

 

4. Charitable gifts of appreciated property _____
   1. Are deductible and can help avoid capital gains
   2. Are deductible but have no effect on capital gains
   3. Can help avoid capital gains but are not deductible
   4. None of the above

 

5. According to the Council on Foundations, how many foundations in this country are believed to be family-managed?
   1. Approximately one-quarter
   2. Approximately one-third
   3. Approximately two-thirds
   4. None of the above

Answers

1. b
2. d
3. a
4. a
5. c